Wintrust Business Credit Announces Closing of $11M ABL Line of Credit to Support Client Acquisition of Premium Fresh Food Distributor

Wintrust Business Credit (WBC) is happy to announce a line increase to $11,000,000 for their existing client. This line increase was used by the client to support the acquisition of a Minnesota-based distributer of premium fresh seafood. WBC’s existing client is a distributor of both fresh and frozen seafood to local grocery stores, while the acquisition target works primarily with restaurants. Once fully integrated, the acquisition will diversify the client’s customer base while broadening their product offerings. The WBC line increase was used to close the acquisition and will fund the company’s post-acquisition working capital needs. 

According to Andy Hall, WBC’s National Portfolio Manager, “We believe that this acquisition will strengthen our client’s competitive position in the local market, as they continue to execute on their strategic growth plans.” WBC National Head of Originations Jason LeuVoy added, “Asset based lending is a great tool to finance M&A activity, and I couldn’t be happier with how our team was able to seamlessly execute this transaction for our client. I look forward to working on many other M&A deals as we continue to expand our ABL business into new markets.” 

For more information, please contact Jason LeuVoy at 312-550-3056 or jleuvoy@wintrust.com.

Banking products provided by Wintrust Financial Corp. banks.

About Wintrust Business Credit

Wintrust Business Credit is a division of Wintrust Bank N.A. WBC provides asset based, working capital lines of credit, and term loans from $10,000,000 to $100,000,000, for middle market companies around the country who want to maximize their borrowing capacity to meet current and future liquidity needs with a flexible and cost-effective structure.

About Wintrust

Wintrust Financial Corporation is a financial holding company with assets of approximately $56 billion whose common stock is traded on the NASDAQ Global Select Market. Built on the “HAVE IT ALL” model, Wintrust offers sophisticated technology and resources of a large bank while focusing on providing service-based community banking to each and every customer. Wintrust operates 15 community bank subsidiaries, with over 170 banking locations located in the greater Chicago and southern Wisconsin market areas. Additionally, Wintrust operates various non-bank business units including business units that provide commercial and life insurance premium financing in the United States, a premium finance company operating in Canada, a company providing short-term accounts receivable financing and value-added out-sourced administrative services to the temporary staffing services industry, a business unit engaging primarily in the origination and purchase of residential mortgages for sale into the secondary market throughout the United States, and companies providing wealth management services and qualified intermediary services for tax-deferred exchanges. Visit wintrust.com for more information.